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The ancient Western philosophers—including Plato, Aristotle, both Catos, Cicero, Seneca and Plutarch—all condemned usury

The ancient Western philosophers—including Plato, Aristotle, both Catos, Cicero, Seneca and Plutarch—all condemned usury

Aristotle argued that “a bit of money cannot beget another,” because cash had been barren, or sterile, and consequently breeding funds from cash ended up being unnatural. The philosophy had been reflected into the law that is civil of B.C. republican Rome, which outlawed interest entirely.

The prohibition of interest is a well-established working principal integrated into the Islamic economic system in Islam, the criticism of usury was well established during the prophet Mohammed’s life and reinforced by his teachings dating back to early 600 A.D. To this day. Present day Islamic finance institutions structure lending deals by getting into risk-sharing agreements with borrowers where return is dependant on the results associated with endeavor or investment, in the place of a rate that is predetermined.

Jewish and Christian doctrines that are usury considering biblical scriptures through the Old and New Testaments. Into the Old Testament, Exodus 22:25 states that as a creditor, and you shall not exact https://tennesseetitleloans.org/ interest from him,” and a similar admonition is found in Leviticus 25:35-37“If you lend money to any of my people with you who is poor, you shall not be to him.Read More